Greenway Mortgage Funding Corp. Rates, Fees & Info

MIDDLETOWN, NJ

LEI: 549300YM15OICCNPH537

Tax ID: 27-3627801

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Greenway Mortgage Funding Corp. is a smaller mortgage company specializing in Home Purchase loans. Greenway Mortgage Funding Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Bridgeport, Poughkeepsie, Philadelphia, and Trenton among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Greenway Mortgage Funding Corp. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenway Mortgage Funding Corp. is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.68% 12/16/24
    30 Year Conventional Refi 6.62% 12/16/24
    30 Year Cash-out Refi 6.72% 12/16/24
    30 Year FHA Purchase 7.35% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.29% 12/16/24
    30 Year USDA Purchase 6.49% 12/16/24
    15 Year Conventional Purchase 6.20% 12/16/24
    15 Year Conventional Refi 5.96% 12/16/24
    15 Year Cash-out Refi 5.96% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Greenway Mortgage Funding Corp. Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Greenway Mortgage Funding Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    586

    Origination Dollar Volume (All Markets)

    $197,060,000

    Awards

    GREENWAY MORTGAGE FUNDING CORP. 30 Year Conventional Loans bronze GREENWAY MORTGAGE FUNDING CORP. FHA Loans bronze
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 473 $166,755,000 $352,548 $6,492 4.14%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 24 $7,940,000 $330,833 $5,920 4.13%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 24 $6,040,000 $251,667 $5,261 4.45%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 25 $5,905,000 $236,200 $6,229 3.80%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 7 $1,885,000 $269,286 $4,974 3.78%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,635,000 $327,000 $5,641 3.62%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $1,555,000 $311,000 $6,594 3.92%
    KINGSTON, NY (FHA|USDA|VA) 4 $1,010,000 $252,500 $6,172 3.81%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $920,000 $460,000 $7,030 4.63%
    Outside of Metro Areas 4 $800,000 $200,000 $3,632 4.53%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $745,000 $248,333 $5,620 4.08%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $420,000 $210,000 $6,003 3.75%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $390,000 $195,000 $4,567 3.43%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $8,794 4.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,552 4.49%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,983 4.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,702 4.75%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,304 3.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $85,000 $85,000 $1,789 3.63%
    Greenway Mortgage Funding Corp.'s top markets include New York, Bridgeport, Poughkeepsie, Philadelphia, and Trenton among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against GREENWAY MORTGAGE FUNDING CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    MID-HUDSON VALLEY
    Similarity Rank: 114
    SIKORSKY FINANCIAL
    Similarity Rank: 115
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Union County Savings Bank
    Similarity Rank: 150
    Prudential Bank
    Similarity Rank: 162
    POWER FINANCIAL
    Similarity Rank: 188
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 208

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 450 $153,660,000 $341,467 $5,143 4.15%
    FHA 115 $37,285,000 $324,217 $10,692 4.00%
    VA 14 $4,510,000 $322,143 $8,835 4.29%
    USDA 4 $770,000 $192,500 $5,176 3.81%
    FHA 2 $460,000 $230,000 $0 4.56%
    FHA 1 $375,000 $375,000 $0 5.03%

    For 2019, Greenway Mortgage Funding Corp.'s most frequently originated type of loan was Conventional, with 450 originations. Their 2nd most popular type was FHA, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 394 $130,960,000 $332,386 $6,522 4.19%
    Refi 103 $36,435,000 $353,738 $5,839 3.79%
    Cash Out Refi 87 $28,645,000 $329,253 $5,957 4.19%
    Home Improvement 2 $1,020,000 $510,000 $8,562 3.75%

    For 2019, Greenway Mortgage Funding Corp.'s most frequently cited loan purpose was Home Purchase, with 394 originations. The 2nd most popular reason was Refi, with 103 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 524 $181,380,000 $346,145 $6,584 4.19%
    15 Year 34 $9,240,000 $271,765 $4,264 3.58%
    20 Year 13 $3,235,000 $248,846 $4,369 3.99%
    Other 9 $2,735,000 $303,889 $4,432 4.18%
    10 Year 3 $425,000 $141,667 $3,345 3.54%
    5 Year 3 $45,000 $15,000 $0 0.00%

    For 2019, Greenway Mortgage Funding Corp.'s most frequently cited loan duration was 30 Year, with 524 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 393 $133,335,000 $339,275
    $1k-2k 82 $24,150,000 $294,512
    $2k-3k 45 $12,775,000 $283,889
    $3k-4k 27 $8,195,000 $303,519
    $5k+ 23 $12,885,000 $560,217
    $4k-5k 13 $4,885,000 $375,769

    Greenway Mortgage Funding Corp.'s average total fees were $6,584, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 393 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 314 $109,780,000 $349,618
    4-5% 218 $72,950,000 $334,633
    5-6% 26 $6,000,000 $230,769
    2.5-3% 12 $4,550,000 $379,167
    6-7% 8 $1,830,000 $228,750
    7-8% 4 $1,710,000 $427,500
    <2.5% 3 $45,000 $15,000
    Over 8% 1 $195,000 $195,000

    During 2019, Greenway Mortgage Funding Corp.'s average interest rate for loans was 4.19%, while their most frequently originated rate bucket for loans was 3-4%, with 314 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 333 $95,595,000 $287,072 $6,377 4.12%
    $400k-600k 108 $49,940,000 $462,407 $6,776 4.10%
    $100k-200k 90 $14,110,000 $156,778 $4,465 4.28%
    $600k-1MM 40 $27,900,000 $697,500 $8,879 4.09%
    $100,000 or less 10 $620,000 $62,000 $2,624 3.33%
    $1MM+ 5 $8,895,000 $1,779,000 $13,795 3.68%

    2019 saw Greenway Mortgage Funding Corp. place emphasis on $200k-400k loans with 333 originations, totaling $95,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 166 $54,040,000 $325,542 $6,565 4.04%
    $150k-250k 119 $49,455,000 $415,588 $6,279 4.16%
    $75k-100k 111 $29,745,000 $267,973 $6,195 4.12%
    $50k-75k 106 $23,930,000 $225,755 $5,870 4.04%
    $250k+ 50 $32,470,000 $649,400 $7,211 4.29%
    $50k or less 33 $6,855,000 $207,727 $5,800 4.43%

    Greenway Mortgage Funding Corp. lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $150k-250k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 97 $32,405,000 $334,072 $5,828 4.09%
    20-30% 89 $33,275,000 $373,876 $5,322 3.99%
    50-60% 56 $18,120,000 $323,571 $10,731 3.90%
    43% 32 $10,390,000 $324,688 $6,224 4.30%
    44% 31 $9,875,000 $318,548 $6,615 4.42%
    42% 30 $8,990,000 $299,667 $5,651 4.50%
    39% 24 $6,910,000 $287,917 $6,218 4.20%
    41% 24 $8,470,000 $352,917 $5,317 4.03%
    37% 24 $7,560,000 $315,000 $6,158 4.14%
    38% 23 $8,135,000 $353,696 $6,278 4.12%
    49% 22 $6,930,000 $315,000 $5,386 4.20%
    <20% 19 $8,445,000 $444,474 $5,508 3.47%
    48% 18 $4,830,000 $268,333 $6,231 4.28%
    40% 18 $6,080,000 $337,778 $5,849 4.07%
    47% 17 $5,125,000 $301,471 $5,186 4.22%
    46% 17 $6,065,000 $356,765 $6,193 4.05%
    45% 15 $4,335,000 $289,000 $5,347 4.33%
    36% 9 $3,445,000 $382,778 $6,098 3.87%
    >60% 5 $1,515,000 $303,000 $6,651 5.40%

    Greenway Mortgage Funding Corp. lent most frequently to those with DTI ratios of 30-36%, with 97 originations. The next most common DTI ratio? 20-30%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 470 $157,260,000 $334,596 $6,369 4.13%
    Asian 60 $23,730,000 $395,500 $5,628 4.08%
    Black 33 $9,635,000 $291,970 $7,385 3.96%
    Not provided 20 $5,950,000 $297,500 $6,140 4.17%
    Other Asian 1 $195,000 $195,000 $3,496 4.63%
    Guamanian 1 $145,000 $145,000 $2,505 5.25%
    Asian Indian 1 $145,000 $145,000 $3,878 3.63%

    Approval Rates

    Total approvals of all applications
    93.54%

    Greenway Mortgage Funding Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.14%

    Greenway Mortgage Funding Corp. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 586 $197,060,000 $336,280

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 586 $197,060,000 $336,280

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $4,815,000 $229,286 $4,747 4.06%
    40-60% 46 $14,920,000 $324,348 $4,626 4.09%
    60-80% 191 $67,035,000 $350,969 $5,610 4.16%
    80-100% 300 $101,830,000 $339,433 $7,099 4.13%
    Over 100% 5 $1,235,000 $247,000 $9,414 4.67%
    Under 20% 6 $890,000 $148,333 $3,236 2.03%